32.12%
yield to maturity
cheap versus the group+439 bp
Price
94.46%
837 ₽ with accrued interest
Coupon
24.50%
12×/yr
Maturity
01.03.2031
term 4.3 y
Duration
1.6 y
price −1.2% per +1 pp of rate
Premium over OFZ
+1758 bp
over OFZ 14.54% at 1.56 yr
Credit risk
BB
ACRA · high
Price and premium over OFZhow the bond has traded and how much it pays over OFZ
Bond price, % of par
Incomewhat your investment will earn and when payments arrive
Yield calculator
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Effective YTM under the MOEX convention (ACT/365). The fair price discounts the cash flows at the yield of a comparable credit class (a reference point).
Expected income and buffer · for the year
Over the key rate+1812 bp
Roll-down (year)+0.46%
Expected income+32.58%
Safety buffer+2766 bp
Cash flows
| Date | Coupon, ₽ | Principal, ₽ | Total, ₽ |
|---|
Coupon payments and principal repayment by date for one bond. On the chart, each bar is a year's total: the coupon is paid 12 times a year, and the bar adds up all of that year's payments.
Issuer credit qualitycredit risk and the issuer's debt on the exchange
Credit risk
High
issuer rating BB · ACRA
Default probability
≈ 3.50%
per year, by issuer rating
Issuer debt on the exchange
892.5 mn ₽
7 issues
Due within a year
4%
of exchange debt, maturities and puts
Cost of debt
22.62%
market 32.08%
Issuer debt maturities by year
202737.5 mn
2028124.7 mn
2029137.3 mn
2030219.8 mn
2031373.3 mn
All of the issuer's bonds are in the section “Issuer curve”.
Risk-adjusted yield
28.90%
without the adjustment — 32.12%: expected default losses reduce the yield by 322 bp (1 bp = 0.01 pp)
The probability of default is 3.50% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.
What the spread over OFZ is made of
Expected loss 322 bp
Exit cost 2 bp
Risk premium 1434 bp
FairValue score
Attractiveness score54/100
How the score is built
Cheap vs norm
94
weight 15%
Cheap vs group
69
weight 15%
Safety buffer
92
weight 25%
Liquidity
21
weight 25%
Credit quality
9
weight 20%
Peersthe issuer's other bonds and similar bonds of other issuers
Issuer curve
4 issues.
This bond is
richer than its own curve (yield lower by 134 bp)
duration, years →
● this bond · yield, % ↑
Similar issues
Other issuers' bonds with a fixed coupon, close in maturity and rating
AUTOASSISTANS 001P-01
matures 03.2029 · BB+
27.20%
MFC Lime-Zaim 06
matures 02.2031 · BB+
26.72%
ASPACE 001P-03
matures 01.2030 · BB+
22.79%
LK AdvansTruck 001P-01
matures 10.2030 · BB
32.00%
LIZING-TREYD 001P-12
matures 08.2030 · BB+
28.41%
Tatneftekhim 001-P-03
matures 08.2031 · BB+
22.34%
History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
32.1%
the rate is fixed for 4.3 y
Deposit
13.1%
top-10 banks, decade 2 of October 2026
Liquidity fund
13.6%
floats with the CBR key rate
The yield is 19.1 pp above the deposit rate, and that difference is payment for the issuer's credit risk: a deposit is insured by the DIA (up to 1.4m ₽), a liquidity fund invests in short risk-free instruments, and a bond can default. The issue's credit assessment is in the credit risk traffic light above.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax, but with 3+ years of holding the gain to par is exempt (long-term holding relief) — see the “After-tax yield” row in the bond parameters (≈ 27.6%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.
Issue parametersterms, buying now, yields and spreads
Terms
Coupon24.50% a year · 12 payments/yr
Coupon, ₽17.78
Par883 ₽
Maturity01.03.2031 · 4.3 y
Issue
Listing level3
Issue size176.6 mn ₽
Lot1 units
Buying now
Order book94.43 / 94.49%spread 0.06% (≈4 bp of yield)
Cost of entry≈ 32 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽2.96 as of 28.10.2026
Average daily turnover455.0 k ₽
Trades today76 · turnover 288.0 k ₽
Yields
Current yield25.94%
Simple yield14.44%
After-tax yield27.64% / 26.96% at 15%
- with the long-term holding relief (3+ years)27.85%
Spreads and valuation
Z-spread over OFZ+1716 bp
Spread over swaps (I)+1772 bp
Z-spread over swaps+1753 bp
Peer assessmentCheap +439 bp versus the group
MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).